Wuxi AppTec, Asia’s largest provider of contract pharmaceutical research, has raised HK$7.70 billion (US$981 million) through a sale of additional shares in Hong Kong as it rides the wave of bullish appetite for Chinese biotechnology shares. The Shanghai-based company sold 73.8 million new shares to institutional investors at HK$104.27 each, a 6.9 per cent discount…
The Hong Kong Monetary Authority (HKMA) kept its base rate unchanged in lockstep with the US Federal Reserve, after the American central bank said it needed more time and data to monitor the potential inflationary impact of President Donald Trump’s tariffs. On Thursday, the HKMA maintained its rate at 4.75 per cent, hours after the…
Hong Kong stocks started the week on a solid note after the US and the European Union (EU) agreed on a trade deal with a lower-than-expected tariff rate that could prevent the global economy from slipping into a recession. The Hang Seng Index rose 0.6 per cent to 25,533.23 at 10.07am local time, while the…
We recently published These 10 Stocks Just Lost Their Spark. CoreWeave, Inc. (NASDAQ:CRWV) is one of the worst-performing companies on Thursday. CoreWeave dropped by 7.57 percent on Thursday to close at $132.21 apiece as investors disposed of shares following an investment firm’s pessimistic outlook for the company. In a market note, CoreWeave, Inc. (NASDAQ:CRWV) earned a “reduce”…
President Xi Jinping has spoken out against unilateral sanctions and trade barriers – reiterating China’s support for globalisation as the international economic environment turns more protectionist – in an article published on the opening day of a high-profile supply chain expo. Wednesday’s piece in Qiushi – the leading theoretical journal of the ruling Communist Party…
Hong Kong police have arrested a couple on suspicion of trying to use about 10 fake HK$500 million (US$63.7 million) bonds to open an account at an HSBC branch in Central. Police said on Monday that the 66-year-old man and 62-year-old woman, both Hongkongers, were arrested for using a false instrument for allegedly presenting the…
Hong Kong’s insurance business may expand by a compounded 55 per cent over the next eight years, driven by the so-called silver economy serving senior citizens and growth in the Greater Bay Area, industry experts said on Tuesday. Gross insurance premium in the city may jump to US$127 billion by 2032 from last year’s US$82…
HSBC is launching a new education series to equip Hong Kong’s small and medium-sized enterprises (SMEs) with knowledge to help them maintain smooth business operations amid the threat of disruption from US tariffs. The city’s largest lender said the Account Fitness initiative would help SMEs effectively manage and maintain healthy accounts. “Many entrepreneurs of SMEs…
Hong Kong should remain vigilant over “complex and severe” external and internal national security threats it still faces, while also leveraging its unique strengths to boost connectivity with the world and integrate with the country, a senior Beijing official has said. Xia Baolong, director of the Hong Kong and Macau Affairs Office, on Saturday laid…
Mainland Chinese companies will use Hong Kong’s capital market as the launch pad for their global growth, according to an action plan signed on Wednesday with Shanghai to connect the premier onshore commercial city with the nation’s offshore financial hub. The two cities will expand the decade-old connect programme linking the stock markets of Shanghai…